Let cost price of T-shirt she made a 25% profit on, be P

This means that she sold it for 25% MORE than the cost price, or for 1.25P

We then get: 

P, or cost price of T-shirt she made a 25% profit on = 

Therefore, profit = $48 - $38.40 = $9.60



Let cost price of T-shirt she made a 20% loss on, be L

This means that she sold it for 20% LESS than the cost price, or for .8L

We then get: 

L, or cost price of T-shirt she made a 20% LOSS on = 

Therefore, loss = $60 - $48 = $12



Since the loss ($12) is greater than the profit ($9.60), she incurred a NET LOSS.



Net loss $2.40 ($12 - 9.60) as a percentage of total cost: $98.40 ($38.40 + 60) =  

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